Spin bounced its editor-in-chief and longtime publisher yesterday in a shake-up that most observers see as mirroring the changes that have rattled the music to its core as the recording business cuts ad spending and younger fans turn to the Web and other digital outlets.

Out in the shake-up is Editor-In-Chief Doug Brod and the publisher, Malcolm Campbell.

Under a restructuring, Devin Pedzwater will become the Spin brand’s creative director with additional responsibility of editorial oversight. He had spearheaded the development of the company’s iPad app, Spin Play.

Charles Aaron, Spin’s longtime music editor, will now serve as the title’s editorial director. Steve Kandell, who had been deputy editor under Brod, was promoted to editor-in-chief, which is now the third-ranking editorial job.

Mike Albanese has been promoted to publisher of both print and digital, and will be charged with trying to re-ignite advertising interest. Since July, Spin has seen its ad pages drop 17 percent, to 190.7, according to Media Industry Newsletter.

As recently as 2008, the magazine was pulling in 654.5 ad pages a year. By 2010, that figure had tumbled to 413, a decline of 37 percent.

The magazine was founded by Penthouse Media owner Bob Guccione, Sr. but was taken over by his son, Bob Guccione Jr., in 1987, when the elder had tried to shut it down. It triggered a legendary family feud that was only patched up several years before the elder Guccione’s death.

“I think they’ve lost their way from the Guccione heyday when they helped Nirvana and Pearl Jam to fame,” said one industry executive. “Spin still seeks to cover alternative and indie music scene.”

“They’ve also lost their biggest source of advertising support, and many of the younger people are getting their music info online from places like Pitchfork Media,” said another executive. kkelly@nypost.com